Happy 2017 from The Global Small Business Blog

©2016 Laurel J. Delaney.  All rights reserved.

"All our dreams can come true – if we have the courage to pursue them." ~ Walt Disney

The American Spirit of Entrepreneurship Around the World

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Maria Contreras-Sweet, the 24th U.S. SBA Administrator, has been recognized for the Award for Global Impact which “recognizes a government official or policy expert who has created a strong ecosystem to support diverse entrepreneurs in his or her country.”

She said in a statement:

“I am deeply honored and grateful to GEN [Global Entrepreneurship Network] for creating this award that recognizes SBA’s groundbreaking work to export the SBA model and infuse the unique American spirit of entrepreneurship around the world. It is among our most important and enduring legacies."

Learn more here.

Sometimes It Pays Not to Ship South of the USA Border

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Montreal, Canada-based Nancy Gervais started repairing American Girl dolls two years ago after her daughter received one as a gift and has now turned it into a small local business.  There's a reason she's not global, yet.

She [Gervais] explained there are other ways to repair the dolls, but that requires shipping the toys south of the border.

To avoid the extra costs, Gervais has learned how to fix the dolls herself by watching YouTube videos.  See what has worked for Gervais here.

Your Cross-Cultural Communication Fix For the Day

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Even something as simple as a dog can mean different things in different cultures.  That's why anyone who has worked in a global team setting has likely witnessed firsthand how communication problems are much more than inconveniences.  They can be embarrassing, costly and damaging.

How do you fix cross-cultural communication issues?  First, it starts with talking about it and considering it regularly -- not just in a one-off sort of manner.  Second, the strength of cross-cultural communication lies in having the right attitude, experience, perspective, and insight.

The bottom line is that understanding how to communicate across cultures is an absolutely indispensable skill.

Look Internationally for New Market Opportunities

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A recent report by HSBC found that three quarters of small businesses would like to expand internationally but said they are held back because they lack “international business experience and knowledge.”

Yet in the case of UK SMEs, they are increasingly being encouraged to look internationally for new market opportunities.

Where do SMEs trip up?

Find out here.

Today in Global Small Business: What's Ahead in 2017

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What's affecting me, my clients, my colleagues and other global small business owners:

• Lift your spirits with good cheer from Small Business Trends.
• Five new year resolutions for small (and global) business owners.
• Seven new year resolutions for SEO in 2017.
• If you resolve to go global in 2017, listen in on this global trade trends webinar 1/4/17 (n/c).
• Turning new year's resolutions into actionable goals for 2017.
• What emerging business ideas could boom in 2017.

Merry Christmas from the Global Small Business Blog

©2016 Laurel J. Delaney.  All rights reserved.

"Santa Claus is anyone who loves another and seeks to make them happy."  -- Edwin Osgood Grover

Take Your Business to The Next Level: Global

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If entrepreneurs are to take their businesses to the next level, they need to get informed, especially if they are Rwandan entrepreneurs.

For example, the Export Growth Fund (EGF) managed by the Development Bank of Rwanda (BRD) is under-utilized.  The Fund was established to help exporters get around obstacles.

If a bank gave an entrepreneur a loan at a 17 per cent interest rate, for example, he [François Kanimba, the minister for trade, industry and East African Community affairs] said, the Fund would chip in 6.5 per cent to ease things for the entrepreneur.

Learn more here.

How to Become the World's Best At Anything

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Even if you don't have a lot of bucks, you can still make your product, service or business into a global brand.  And a strong brand is one of the most valuable assets a company owns (think Coca Cola, for example).

In the case of Nigerian-based Access Bank, they aspired to become a solid brand, not just a cool logo or advertisement, that would command respect in many sectors.  And they achieved it.

"While innovation, excellent risk and corporate governance framework might be the advantage we have over our competitors, the [Access] Bank is propelled by a vision of becoming the world’s most respected African Bank, and this requires us to do things differently to standout. He [Access Bank Group Managing Director, Herbert Wigwe] thanked the bank’s stakeholders for their support and assured them of improved performance in the years ahead."

Read more about Access Bank's story here.

Entrepreneurs Will Face No Shortage of Opportunities for Success in 2017

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According to Jim Squires, director of market operations at Instagram, entrepreneurs will face no shortage of opportunities for success in 2017.

He shares insights with Small Business Computing.  Here are five key points:

1. SMBs Will Act on Their Global Ambitions
2. Mobile Will Matter More than Ever
3. Creativity Will Be Democratized
4. SMBs Will Deepen Customer Relationships
5. Lower Barriers to Entry Will Pose Challenges

Squires emphasizes that choosing platforms that help your global small business stand out will be essential in 2017.

Read more here.

How to Maintain Your Company's Global Goals While Building A Remote Workforce

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Team building efforts that maintain open communication lines and that push critical information to remote employees can improve that engagement and keep remote employees from losing focus on a company’s global goals, one being to create an environment where people worldwide will flourish regardless of where they are based.

Small businesses with global operations can have one or more virtual offices at remote geographic locations with employees who work out of their homes or through a mobile technology platform. Remote employees can feel less engaged than their colleagues who are in the office.

What's the work around?  Develop team-building exercises. That's according to this article -- especially if you are participating in international markets.  If you want to gain a competitive edge in global markets, team-building exercises might be the answer to address certain challenges that come with international expansion (e.g., cultural differences, time zone complications and currency fluctuations).

Today in Global Small Business: Why Brexit Will Make It Difficult for UK SMEs to Go Global

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What's affecting me, my clients, my colleagues and other global small business owners:

• What does it take to go global?
• Global success is driven by the ability to embrace cultural differences.
• Are graduates prepared for the global workforce?
• Global economic forecasts revised post-USA election.
• Why Brexit is expected to make it more difficult for British businesses to "go global."
• Has international education become an internationally traded commodity?

Oh Holy Night

©2016 Laurel J. Delaney.  All rights reserved.

A star is brightly shining.  Peace.  Joy.  Hope.  Merry Christmas. Happy 2017!

A New Innovation Center to Help Small Companies Go Global

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The establishment of a “Joint Innovation Center” in Luxembourg by Vodafone and Technoport S.A. (50/50 basis ownership) was announced by the Prime Minister and Minister of State, Xavier Bettel, and the Deputy Prime Minister and Minister of the Economy, Étienne Schneider.

Says Ninian Wilson, CEO of Vodafone Procurement Co SARL:

"The innovation centre creates a unique platform to help small companies go global. The environment in Luxembourg is ideally suited to supporting such activities in the ICT space.”

Learn more about this exciting platform here.

New York School Forges National and International Connections

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At Brooklyn-based Medgar Ever College’s School of Business, entrepreneurship and international "experiential learning" go hand in hand.

“The point is that they [the students] see a world beyond them,” [Business school Dean Jo-Ann] Rolle said. “To do that, you have to understand culture and market niche.”

Learn more about ways in which Evers students are making inroads into the global business world here.

How to Use Periscope For Your Global Small Business

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There are so many ways to use Periscope for your global small business but let's take a look at 30 that Small Business Trends put together.  And one, I like the best:

Reach a Global Audience

Transitioning to a global economy may not be an easy task. One of the biggest challenges would be a way to connect with foreign customers. Periscope however removes that barrier. You can now communicate with your customers from all around the world in a cost effective way.

Find out about the other 29 ways here.

Bolstering Small Businesses in 2017

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Here are three ways the new SBA Small Business Administrator Linda McMahon plans to bolster small businesses in 2017:

1. Upgrade technology.
2. Build stronger networks for women (we'll take it :-)!
3. Expand access to capital.

Read more here.

Today in Global Small Business: Cuban Entrepreneurs Expect Faster Economic Reforms

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What's affecting me, my clients, my colleagues and other global small business owners:

• Five e-commerce trends for 2017.
• What you need to know when expanding in Europe.
• German supermarket chain Aldi to get physical stores in China.
• Can Cuban entrepreneurs expect faster economic reforms post USA-election?
• Why Brexit is not seen as a threat to small businesses.
• On company growth, think global.

The Road to Christmas

©2016 Laurel Delaney.  All rights reserved.

"At Christmas, all roads lead home."  -- Marjorie Holmes

Boots on the Ground Make Going Global Easier

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A lot of small businesses have the philosophy that driving international sales has a lot to do with getting closer to your customer.

But [the Australian Federal Government's Export Finances and Insurance Corporation (EFIC)] executive director Andrew Watson warns that getting the right corporate structure, business partner and making sure you’re meeting all the regulatory and compliance obligations of overseas markets is the key to success. “There’s a real need to make sure that you’re managing the risks that you’re taking by entering that new market,” he says.

Are you ready to take the risk and invest?  Read more here.